MICROINTELLIGEN (03275.HK): HK offer closes, margin bids 32x, entry fee HK$2,167.64, listing Oct 28

NewTimeSpace News: On October 23, 2026, the Hong Kong public offering of Changzhou Microintelligence Co., Ltd (Microintelligen, 03275.HK) closed at noon, with its H shares expected to be listed on the Main Board of the Stock Exchange of Hong Kong on October 28. Orient Capital (Hong Kong) Limited is the sole sponsor.

According to the prospectus, the company is offering 37,275,800 H shares globally, comprising 3,727,600 Hong Kong offer shares (10%) and 33,548,200 international offer shares (90%), at HK$16.63 to HK$21.46 per share, with a board lot of 100 shares and an entry fee of HK$2,167.64. Gross proceeds range from about HK$620 million to HK$800 million, and net proceeds are estimated at about HK$641.5 million at the mid-point price, based on 372,757,356 shares in issue after the offering. Broker margin statistics showed that, as of 11:17 a.m. on October 23, 10 brokers had recorded about HK$2.56 billion of margin financing, equal to about 32 times the HK$79.99 million public offer size.

About 60.3% of the net proceeds will be used for core technology R&D to enhance the intelligence and performance of its embodied intelligent industrial robot (EIIR) products; 10.6% to build a localised overseas sales and service network; 14.7% for strategic investments and acquisitions; 4.4% to expand production capacity; and 10.0% for working capital and general corporate purposes. Cornerstone investor Elbe Rhein Investment Limited subscribed for 823,800 shares, representing about 2.21% of the offer shares.